Crude oil price surge: Brent crosses $90 as escalating Middle East war rattles energy markets

Global oil prices surged on Friday as the conflict in West Asia intensified, pushing benchmark crude above the $90 mark amid fears of further supply disruptions.The Brent North Sea crude, the international oil benchmark, rose more than 5% to $90.25 per barrel, its highest level since April 2024, AFP reported.The US benchmark West Texas Intermediate (WTI) climbed even more sharply, advancing 8.1% to $87.56 per barrel. Meanwhile, US President Donald Trump on Friday said the only acceptable outcome to end the ongoing conflict with Iran would be the country’s “unconditional surrender,” while also promising economic rebuilding if Tehran agrees to install new leadership."There will be no deal with Iran except UNCONDITIONAL SURRENDER," Trump wrote on his Truth Social platform.His remarks came as Israel carried out strikes on regime targets in Tehran and Hezbollah positions in Beirut, while US Defense Secretary Pete Hegseth said American strikes against Iran were “about to surge dramatically.”Trump said that if the Islamic Republic capitulates, the United States and its allies would help rebuild Iran’s economy, bringing the country “back from the brink of destruction, making it economically bigger, better, and stronger than ever before.”However, he said such support would depend on the installation of what he described as “a GREAT & ACCEPTABLE Leader(s).”The US president ended the post with a new slogan — “MAKE IRAN GREAT AGAIN (MIGA!)” — a play on his well-known “Make America Great Again” political slogan.